Current reports
Current report no. 11/2012
End of public offering for sales of shares
Legal basis:
Art. 56 section 1 point 2 of the Public Offering Act - Current and periodic information
Contents of the report:
The Management Board of Zespół Elektrowni Pątnów-Adamów-Konin” S.A. ("Company") hereby provides information on ended public offering for 26,013,000 series A1 ordinary bearer shares with face value of PLN 2 each ("Offering").
1. Sales start and end dates:
Acceptance of subscription from individual investors: October 11, 2012 - October 19, 2012 (till 11:59 pm).
Acceptance of subscription from institutional investors: October 23, 2012 - October 25, 2012.
2. Securities allocation date:
October 26, 2012
3. Number of securities for sale:
The offering covered 26,013,000 shares of the Company.
4. Reduction rate:
The offering was not divided into tranches.
The reduction rate for subscriptions of individual investors if the subscription covered a maximum number of sold shares, i.e. 750 sold shares, was 44.13%.
There was no reduction of subscriptions in relation to institutional investors.
5. Number of subscribed shares:
Subscriptions for 27,771,812 shares of the Company, including:
a) individual investors - 5,660,762 shares of the Company;
b) institutional investors - 22,111,050 shares of the Company.
6. Number of allocated shares for sale:
As part of the Offering 26,013,000 shares of the Company were allocated, including:
a) 3,901,950 shares of the Company allocated to individual investors;
b) 22,111,050 shares of the Company allocated to institutional investors.
7. Purchase price of shares under Offering:
a) PLN 26.20 per one share sold to individual investors;
b) PLN 26.20 per one share sold to institutional investors.
8. Number of persons that subscribed for sale of shares:
Subscriptions under the Offering were submitted by 14,272 investors, including:
a) individual investors: 14,059 persons;
b) institutional investors: 213 institutional investors.
9. Number of persons with allocated shares:
14,272 investors had shares allocated as part of the Offering, including
a) individual investors: 14,059 persons;
b) institutional investors: 213 institutional investors.
10. Names (business names) of underwriters that acquired shares under underwriting agreements, including determination of the number of acquired shares and actual price of the share (sales price after deduction of remuneration for acquisition of the share under the underwriting agreement, acquired by the underwriter):
Based on the underwriting agreement concluded on October 10, 2012 the underwriters were: Credit Suisse Securities (Europe) Limited, ING Bank N.V., London Branch, J.P. Morgan Securities plc, UniCredit Bank Austria AG, Powszechna Kasa Oszczędności Bank Polski S.A. seated in Warsaw (acting also through its branch: Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna Oddział – Dom Maklerski PKO Banku Polskiego seated in Warsaw), Banco Espírito Santo de Investimento S.A. branch in Poland, Ipopema Securities S.A., Trigon Dom Maklerski S.A.
The underwriters acquired no shares under the underwriting agreement.
11. Value of completed sales understood as a product of a number of shares offered and sales price:
Value of completed Offering amounted to PLN 681,540,600 (26,013,000 shares sold at issue price of PLN 26.20 per one share).
12. Determination of total costs recognized as issue costs, including indication of costs per purpose, broken down into the following costs as minimum: (a) preparing and conducting the offering; (b) remuneration for underwriters, separately for each underwriter; (c) preparation of prospectus - including advisory costs; (d) promotion of offering including methods for settling those costs in accounting books and their recognition in financial report of the issuer:
In accordance with the estimates of the Company, maximum costs incurred by the Company in relation to the Offering (so-called issue costs) will not exceed approximately PLN 10 million. The cost estimate referred to in the preceding sentence does not cover costs incurred by the State Treasury of the Republic of Poland ("Selling Shareholder").
As the issue costs had not been finally settled by the date of this report, the amount of issue costs was estimated and recognized as issue costs according to the best knowledge of the Company. The Company will prepare and publish a current report on final amount of the issue costs, including costs per purpose, once all invoices are received and accepted from entities involved in the work on preparing and conducting the public offering.
Costs of the Company in relation to the Offering shall be recognized as costs of the Company operations.
13. Average cost of sales per share:
According to the estimates of the Company a maximum cost of sale per one share will not exceed about PLN 0.38 (the amount does not include costs incurred by the Selling Shareholder).
The Company will prepare and publish a current report on average cost of sales per one share once all invoices are received and accepted from entities involved in the work on preparing and conducting the public offering.
Legal Basis: § 33 item 1 of the Regulation issued by the Finance Minister on 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.
Signatures of persons representing the company:
Katarzyna Muszkat – President of the Management Board
Anna Striżyk – Vice President of the Management Board